Shared memory allows multiple processes or threads to access the same block of memory concurrently. It provides an efficient means for communication between programs that is useful for reducing redundant copies of data. There are different types of shared memory architectures including uniform memory access (UMA) where all CPUs can access memory uniformly and non-uniform memory access (NUMA) where access times depend on memory location. Programming languages and operating systems provide APIs for processes to create and use shared memory regions for inter-process communication (IPC).